Financial Data and Key Metrics Changes - Overall revenue increased by 14% year-over-year, while adjusted EBITDA jumped by 76% [21][26] - Capital expenditures at Rochester were approximately $20 million during Q1, a $45 million decrease from the average quarterly CapEx in 2023, marking the lowest quarterly capital expenditures level since Q4 2020 [8][26] - The company ended the quarter with an improved net debt to EBITDA ratio of 3.2 times and approximately $225 million drawn on its $400 million revolving credit facility [8][26] Business Line Data and Key Metrics Changes - Silver and gold production at Rochester in Q1 totaled nearly 700,000 ounces and 5,800 ounces respectively, aligning with expectations [6] - Palmarejo achieved its highest quarterly growth in silver production levels in several years, contributing to strong quarterly free cash flow [25] - Wharf's results were ahead of plan, benefiting from seasonal events, indicating a strong start to 2024 [25] Market Data and Key Metrics Changes - The company anticipates reaching a free cash flow inflection point in the second half of the year, which will be earmarked for debt repayment [21] - The current metals price environment, particularly for silver, is viewed as favorable, with supply-demand fundamentals better than ever [1] Company Strategy and Development Direction - The company is focused on optimizing operations at Rochester and pursuing opportunities at other assets, with a strong emphasis on exploration and mine life extension [1][9] - Plans include aggressive drilling and development at Palmarejo and a comprehensive drilling program at Silvertip, aiming for rapid resource growth [23][28] - The company aims to achieve long-term leverage targets of total debt to EBITDA of 1 times and net debt to EBITDA of nil [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operational improvements at Rochester and the potential for significant production increases in the second half of the year [30] - The company is well-positioned for a strong 2025, with a focus on optimizing mining and processing rates [1][6] - Management highlighted the importance of sustainability and safety, noting the company's leadership in key safety indicators [24] Other Important Information - The company published its 2023 ESG report, emphasizing its commitment to sustainability and operational success [24][23] - There are no current plans for additional hedging beyond the end of Q2, as the company focuses on ramping up production [32][48] Q&A Session Summary Question: How is productivity at Rochester expected to normalize? - Management indicated that they expect to reach a run rate of around 88,000 tons per day in the second half of the year, with ongoing optimization work [30] Question: What are the labor conditions at Rochester? - Management noted that they have not faced significant labor challenges and have successfully filled roles needed for the expansion [33][48] Question: What is the impact of deferred revenue recognition on cash flow? - The company reported a $55.2 million impact from deferred revenue recognition in Q1, which was higher than expected [42] Question: What is the status of tax pools and NOLs? - The company has over $630 million in NOLs, indicating no federal income tax obligations in the near future [65]

Financial 1 • Adjusted CAS on a by-product basis increased 17% quarter-over-quarter to $1,165 per ounce, largely driven by lower metal sales • Capital expenditures decreased slightly quarter-over-quarter to less than $1 million 1 • Free cash flow in the first quarter totaled $11 million compared to $27 million in the prior period, reflecting lower metal sales Exploration • Exploration investment remained flat quarter-over-quarter • Preparations for the 2024 drilling program were undertaken during the quarte ...

The effective portions of cash flow hedges are recorded in Accumulated other comprehensive income (loss) ("AOCI") until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue are recognized as a component of Revenue in the same period as the related sale is recognized. | --- | --- | --- | --- | --- | --- | --- | |------------------------------------|------------------------|-------------------|-----------------|--------------------------- ...

A “targeted” counterattack last night… the 10-year Treasury yield is a problem for stocks… home sales fall thanks to expensive mortgages… silver might shine more than goldIt continues to be a busy news cycle. Let’s follow up yesterday’s headline-driven Digest with another tour through the top events impacting investor portfolios.First up is last night’s Israeli counterattack on Iran.A “limited strike” to avoid escalationOvernight, Israel launched a targeted strike in the area around Isfahan in central Iran. ...

Coeur Mining, Inc. (CDE) announced that its newly expanded Rochester silver and gold mine in Nevada achieved commercial production.On Mar 7, the new three-stage crushing circuit and truck load-out facility were officially commissioned. Since then, the crusher circuit has operated at an average throughput of more than 70,000 tons per day and has topped 88,000 tons per day. This led to the declaration of commercial production by the end of the first quarter.Backed by this, the company additionally stated that ...

iShares MSCI Global Silver and Metals Miners ETF (SLVP) topped the list of best-performing ETFs in the past month, gaining 27.4%. Being a leveraged play, metal miners tend to experience more gains than their bullion cousins in a rising metal market (read: Gold ETFs Outperform in March).Though most of the stocks in the fund’s portfolio delivered strong returns, a few were up more than 25% in a month. These include Coeur Mining Inc. (CDE) , Endeavour Silver Corporation (EXK) , Silvercorp Metals (SVM) , Seabri ...

CHICAGO--(BUSINESS WIRE)--Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today announced that it has arranged a private placement (the “Offering”) of 7,704,725 flow-through common shares of the Company that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “flow-through shares”) for gross proceeds of approximately $25 million (C$34 million), resulting in a 27% premium. The offering will be subject to a four-month hold period. The pr ...

11:00 a.m. ET, February 22, 2024 This presentation contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements involving strategic priorities and company strategies, growth, anticipated production, costs and expenses, exploration and development efforts, operations, expectations and initiatives at Palmarejo, Rochester, Kensington, Wharf and Silvertip including the Rochester expansion project, inflation and other cost pressures, capit ...

Financial Data and Key Metrics Changes - Coeur Mining's fourth quarter represented the strongest quarter in over three years, with revenues increasing by 35% due to a 29% rise in gold production and a 34% rise in silver production [1] - Adjusted EBITDA more than doubled, and fourth quarter operating cash flow reached its highest level since late 2020 [1] - The net debt to adjusted EBITDA ratio improved to 3.4 times from 4 times at the end of the third quarter [16] Business Line Data and Key Metrics Changes - Rochester produced 1.3 million ounces of silver and 20,000 ounces of gold in the fourth quarter, marking quarter-over-quarter increases of 120% and 345% respectively [27] - Palmarejo delivered over $15 million of free cash flow in the fourth quarter, its highest mark of the year, despite challenges from inflation and a strong peso [26] - Kensington showed a good recovery with expectations for higher gold production in 2024, following a strong fourth quarter [30] Market Data and Key Metrics Changes - The company anticipates lower metal sales in the first quarter due to the ramp-up at Rochester and Wharf's seasonally driven slower first quarter [36] - The exploration investment for 2024 is expected to be between $40 million to $50 million for scout and expansion drilling, and $7 million to $13 million for infill drilling [11] Company Strategy and Development Direction - The company is focused on significant U.S.-based production growth, particularly in silver, and transitioning to positive free cash flow while reducing debt [40] - Continued investment in high-return, high-impact exploration remains a key differentiator for Coeur, especially as many companies in the sector have underinvested [23] Management's Comments on Operating Environment and Future Outlook - Management highlighted that the last three years represented a period of heavy investment, and they are now at an inflection point with expected results from these investments [18] - The company is optimistic about achieving commercial throughput levels at Rochester by the end of the second quarter [28] Other Important Information - The company completed an extension of its revolving credit facility through February 2027, indicating strong external confidence from lenders [38] - Fourth quarter capital expenditures declined by 17% compared to the previous quarter due to timing of final contractor payments [37] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded with a note of appreciation for participants [51][52]

CHICAGO--(BUSINESS WIRE)--Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported year-end 2023 proven and probable reserves of 3.2 million ounces of gold and 243.9 million ounces of silver, net of depletion. Measured and indicated resources totaled 3.2 million ounces of gold, 196.3 million ounces of silver, 1,517 million pounds of zinc and 768.7 million pounds of lead, reflecting year-over-year increases for all metals driven by additions at Palmarejo, Rochester, Wharf and Silvertip. Inf ...